Indian households are reducing their debts at a faster pace than most emerging economies, making domestic consumption an attractive sector for investment, according to Zerodha co-founder Nikhil Kamath. Data shows household debt as a percentage of GDP fell from 42% in 2008 to 35.5% in 2022, while corporate debt dropped from 107.3% to 87.7%. Conversely, the government's debt rose from 71.6% in 2008 to 82.1% in 2022. As Indian companies have cut debt, there is room for further capital expenditure and less financial risk.